State Treasurer State of Michigan Sells 2,300 Shares of Maximus, Inc. (MMS)
State Treasurer State of Michigan decreased its holdings in shares of Maximus, Inc. (NYSE:MMS) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,400 shares of the health services provider’s stock after selling 2,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Maximus were worth $1,574,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MMS. Acrospire Investment Management LLC boosted its holdings in Maximus by 17.6% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the health services provider’s stock worth $125,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Maximus by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,367 shares of the health services provider’s stock worth $148,000 after purchasing an additional 220 shares during the last quarter. First Bank & Trust boosted its holdings in Maximus by 4.2% during the second quarter. First Bank & Trust now owns 2,507 shares of the health services provider’s stock worth $157,000 after purchasing an additional 101 shares during the last quarter. Intl Fcstone Inc. acquired a new position in Maximus during the second quarter worth $201,000. Finally, GW Henssler & Associates Ltd. acquired a new position in Maximus during the second quarter worth $205,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
Several research firms have issued reports on MMS. Zacks Investment Research raised shares of Maximus from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Wednesday, October 4th. BidaskClub lowered shares of Maximus from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Maxim Group set a $66.00 price target on shares of Maximus and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Robert W. Baird began coverage on shares of Maximus in a research report on Sunday, September 3rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.14.
Shares of Maximus, Inc. (NYSE:MMS) opened at $65.01 on Monday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.02. Maximus, Inc. has a 1 year low of $43.69 and a 1 year high of $66.96. The stock has a market cap of $4,214.09, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32.
Maximus (NYSE:MMS) last issued its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $600.40 million for the quarter, compared to analyst estimates of $614.12 million. Maximus had a net margin of 8.43% and a return on equity of 25.08%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share. equities analysts anticipate that Maximus, Inc. will post 3.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Maximus’s payout ratio is presently 5.73%.
In other news, CEO Richard A. Montoni sold 29,203 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.38, for a total value of $1,763,277.14. Following the transaction, the chief executive officer now directly owns 549,215 shares of the company’s stock, valued at $33,161,601.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David Francis sold 2,000 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $58.89, for a total transaction of $117,780.00. Following the completion of the transaction, the general counsel now directly owns 13,716 shares in the company, valued at $807,735.24. The disclosure for this sale can be found here. Insiders sold 143,403 shares of company stock worth $8,866,281 over the last three months. Insiders own 3.10% of the company’s stock.
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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